Borr Drilling (BORR) Reports Q1 Revenue of $82M

Borr Drilling (NYSE: BORR) reported Q1 revenue of $82 million versus the consensus estimate of $89.7 million.

• Net loss of $51.3 million, an increase of $5.2 million compared to the loss in the fourth quarter of 2021
• Cash and cash equivalents of $50.1 million and restricted cash of $8.2 million at the end of the first quarter of 2022, an increase of $12.3 million from the end of the fourth quarter of 2021
• Adjusted EBITDA of $21.4 million, a decrease of $3.6 million compared to the fourth quarter of 2021

For earnings history and earnings-related data on Borr Drilling (BORR) click here.

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